How do I change tax withholding on my retirement income payment?

In order to change the withholding on your annuity or systematic withdrawal payments, you must complete the Form W-4P Withholding Certificate for Pension or Annuity Payments and return the form to GuideStone.

To obtain this form, go to www.irs.gov/forms and search for "W-4P". You can find instructions for completing the form on page 3.

Notes for IRS Form W-4P

- If you receive a periodic payment (such as a monthly annuity payment from GuideStone), withholding will be calculated in the same manner as withholding from wages. If you want taxes withheld from your retirement income payment, you must designate the number of withholding allowances on line 2 of the form. 

- If you do not want taxes withheld, check the box on line 1.

- If you receive a systematic withdrawal or an annuity payment from GuideStone that is payable for less than 10 years, it is considered an "Eligible Rollover Distribution", and we must withhold 20% for federal income taxes.

Once completed, you can return the form to GuideStone by scanning and emailing to info@guidestone.org.



Was this article helpful?